HUD spends nearly $3 billion to nation's public housing authorities to improve housing

National Mortgage Professional

Mar 24, 2009

Fannie Mae/Freddie Mac HVCC effective May 1, 2009 MortgagePress.comFannie Mae, Freddie Mac, appraisals, Home Valuation Code of Conduct, HVCC The Fannie Mae and Freddie Mac Home Valuation Code of Conduct (HVCC) becomes effective on May 1, 2009. All lenders, correspondent lenders, and servicers selling loans to Fannie Mae/Freddie Mac will be required to adhere to the Code. The Code of Conduct establishes: • Required use of the Market Conditions Addendum ( Fannie Mae form 1004MC/Freddie Mac form 71) • Appraiser independence safeguards • Requirement that the borrower receive a copy of the appraisal • Appraiser engagement restrictions • Prohibitions against improper influences on appraisers • Appraisal audit requirements • Independent Valuation Protection Institute For a copy of the HVCC

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Mar 24, 2009

Analysis and Data

Mortgage Rates Decline After 3 Weekly Increases

The 30-year fixed-rate mortgage averaged 6.71%, down 8 basis points from the previous week.

Mortgage rates slipped back just a bit this week after three straight increases, Freddie Mac said Thursday. According to its Primary Mortgage Market Survey (PMMS), the 30-year fixed-rate mortgage (FRM) averaged 6.71%, a drop of just 8 basis points from the previous week. “...

Regulation and Compliance

5 Federal Agencies Propose Guidance For ROVs

Addresses reconsiderations of value (ROV) for residential real estate transactions.

Five federal regulatory agencies on Thursday jointly requested public comment on proposed guidance addressing reconsiderations of value (ROV) for residential real estate transactions.  The five federal agencies that jointly issued the request include the: Board of G...